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MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

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  • Post #1,209,101
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  • Jan 25, 2022 3:35pm Jan 25, 2022 3:35pm
  •  Windstrown
  • | Joined May 2014 | Status: Member | 1,132 Posts
What im looking forward to short tomorrow for the next 4 weeks
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  • Post #1,209,102
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  • Jan 25, 2022 3:36pm Jan 25, 2022 3:36pm
  •  here2there
  • Joined Dec 2019 | Status: Moving on... | 5,330 Posts
I obviously have a hater in here who keeps thumbing down my comments, even when I share valuable information. What a loser!
You don't know because you don't ask.
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  • Post #1,209,103
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  • Jan 25, 2022 3:41pm Jan 25, 2022 3:41pm
  •  Nordling
  • Joined Apr 2021 | Status: Mamba Mentality. | 2,782 Posts
Quoting here2there
Disliked
{quote} This is not something you backtest. In other words, backtesting is pretty much useless when it comes to candlestick patterns. That being said, using the Daily chart, look for engulfing candles, outside bars (similar to engulfing but not necessarily the same), pin bars/long wicks at key areas of support and resistance. A great way to find support and resistance is to use the zig zag indicator, and set it at 2,2,1. Use the weekly chart to plot areas of support and resistance.
Ignored
Thanks for the useful info buddy! I will definitely give it a try
 
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  • Post #1,209,104
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  • Jan 25, 2022 3:41pm Jan 25, 2022 3:41pm
  •  Bones
  • Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 22,299 Posts
bit early to call it , but I think it will print ,the dow has double 1000 p wick to downside ,lets see the close
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  • Post #1,209,105
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  • Jan 25, 2022 3:50pm Jan 25, 2022 3:50pm
  •  Nordling
  • Joined Apr 2021 | Status: Mamba Mentality. | 2,782 Posts
Quoting Techanalyst
Disliked
{quote} Candlesticks are created by up and down movements in the price. While these price movements sometimes appear random, at other times they form patterns that traders use for analysis or trading purposes. No pattern works all the time, as candlestick patterns represent tendencies in price movement, not guarantees. https://www.incrediblecharts.com/can...-strongest.php I would say it's something like 50/50 and not that reliable. I think supply/demand analysis strictly looking at the charts has proven...
Ignored
Even though i had a bad experience with supply and demand, compared to the other technicals it's accuracy was something that got my attention Of course it was not profitable without fundamentals, but it has it's advantage against other pure technical systems.

Alright, i guess they all worth giving it a try. I will combine supply and demand with fundamentals, on the other hand I will also combine candlestick patterns with fundamentals and decide which is better
 
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  • Post #1,209,106
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  • Jan 25, 2022 3:52pm Jan 25, 2022 3:52pm
  •  Nordling
  • Joined Apr 2021 | Status: Mamba Mentality. | 2,782 Posts
Quoting here2there
Disliked
{quote} The same can be said about supply and demand trading.
Ignored
That's true. I better try both
 
 
  • Post #1,209,107
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  • Jan 25, 2022 4:07pm Jan 25, 2022 4:07pm
  •  trumps
  • Joined Mar 2020 | Status: Member | 2,259 Posts
DOW had it's biggest weekly selloff since Oct 2020.
Closed weekly Channel break, but support below
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Pulchra All Time Return: -88.4%
 
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  • Post #1,209,108
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  • Jan 25, 2022 4:18pm Jan 25, 2022 4:18pm
  •  trumps
  • Joined Mar 2020 | Status: Member | 2,259 Posts
The DOW is an interesting study on divergences, TL's, Channels and S&R.

Current weekly bearish Divergence is stronger that the previous in 2018, with much more consolidation before the current move down
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Good Vibes - In charts we trust
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  • Post #1,209,109
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  • Jan 25, 2022 4:20pm Jan 25, 2022 4:20pm
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,468 Posts
Quoting trumps
Disliked
The DOW is an interesting study on divergences, TL's, Channels and S&R. Current weekly bearish Divergence is stronger that the previous in 2018, with much more consolidation before the current move down {image}
Ignored
Equity market is so weak, can't hold any gains lately

Lets see what Powell has to say
COT: The precious data ignored
 
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  • Post #1,209,110
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  • Jan 25, 2022 4:21pm Jan 25, 2022 4:21pm
  •  ForexGoose
  • Joined Dec 2021 | Status: hungry for pizza & burgers | 712 Posts
I think that DXY will easily go to 97 in the coming weeks. Dollar is still in a bullish trend with strong support at 94.5.
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don't believe in mumbo jumbo from gurus
 
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  • Post #1,209,111
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  • Jan 25, 2022 4:32pm Jan 25, 2022 4:32pm
  •  trumps
  • Joined Mar 2020 | Status: Member | 2,259 Posts
Quoting kuroro001
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{quote} Equity market is so weak, can't hold any gains lately Lets see what Powell has to say
Ignored
I think Powell will continue talking tightening.
Too early right now to change language and back down.

He will need a significant market "Crash" to justify changing any talked up plans and policy.
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Pulchra All Time Return: -88.4%
 
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  • Post #1,209,112
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  • Jan 25, 2022 4:35pm Jan 25, 2022 4:35pm
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,468 Posts
Quoting trumps
Disliked
{quote} I think Powell will continue talking tightening. Too early right now to change language and back down. He will need a significant market "Crash" to justify changing any talked up plans and policy.
Ignored
And honestly 10% drop on ES is "nothing"
It happened plenty of time, he can't switch from hawkish stance to dovish

But the chief economist M.El Erian said the FED will have to stop QE right away tomorrow, it would be crazy if so
He is usually spot on, we'll see
COT: The precious data ignored
 
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  • Post #1,209,113
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  • Jan 25, 2022 4:58pm Jan 25, 2022 4:58pm
  •  trumps
  • Joined Mar 2020 | Status: Member | 2,259 Posts
Quoting kuroro001
Disliked
{quote} And honestly 10% drop on ES is "nothing" It happened plenty of time, he can't switch from hawkish stance to dovish But the chief economist M.El Erian said the FED will have to stop QE right away tomorrow, it would be crazy if so He is usually spot on, we'll see
Ignored
Watching Cable right now, with the FED expected to be hawkish, you can wager that most of the meeting outcome is priced in.
I'm thinking the usual scenario will ensue.
On the talk, today's GU low will be taken out, going into the demand zone, before a significant correction north to 1.36 area.

Then continue down...
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  • Post #1,209,114
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  • Jan 25, 2022 5:06pm Jan 25, 2022 5:06pm
  •  trumps
  • Joined Mar 2020 | Status: Member | 2,259 Posts
Quoting kuroro001
Disliked
{quote} And honestly 10% drop on ES is "nothing" It happened plenty of time, he can't switch from hawkish stance to dovish But the chief economist M.El Erian said the FED will have to stop QE right away tomorrow, it would be crazy if so He is usually spot on, we'll see
Ignored
Personally, I'll be waiting to see if we get into the top zone before looking for reasons to short
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  • Post #1,209,115
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  • Jan 25, 2022 5:32pm Jan 25, 2022 5:32pm
  •  W0lfram
  • Joined Dec 2020 | Status: Crossed over into the Twilight Zone | 1,157 Posts
Quoting Nordling
Disliked
{quote} Well i agree and i think that way too, but seeing some successful economists using those patterns + my timing problem really makes me question my stand on this matter. Maybe they can be used with fundamentals? Idk we will wait and see
Ignored
The authors of this article tested the predictive power of 6 patterns against random guessing on the example of the stock market. Forex..乁( •_• )ㄏ Try to find them, then perform a simple statistical test
https://ieeexplore.ieee.org/document/8713248
Quote
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In conclusion, among the six candlestick models, onlyt wo of them are somewhat effective and provides profitable revenue for investors using nine US stocks. Our results provide an up-to-date view of the “ancient” candlestick analyses. Given the limited applicability, general investors should not be using the candlestick model as the major guideline for their decision-making process
.
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And these are bullish patterns. And we know that "stonks only go up".. so no new information
 
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  • Post #1,209,116
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  • Jan 25, 2022 5:33pm Jan 25, 2022 5:33pm
  •  fxpipper
  • Joined Apr 2009 | Status: Member | 545 Posts
Quoting here2there
Disliked
{quote} The same can be said about supply and demand trading.
Ignored
No. SnD zones represent accumulation/distribution areas. While they can be refined, the probability of them working for you decreases if all you're doing is trading them haphazardly by using limit orders at the open, middle or close of them. The proper way to trade SnD is to look at a higher timeframe zone and then zoom into a lower timeframe, and then refine your entry.

SnD zones fail when the trend has already changed (on the corresponding timeframe) and they become liquidity targets. It's very easy to spot that.
 
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  • Post #1,209,117
  • Quote
  • Jan 25, 2022 5:38pm Jan 25, 2022 5:38pm
  •  fxpipper
  • Joined Apr 2009 | Status: Member | 545 Posts
Quoting here2there
Disliked
{quote} FYI, trendlines are not subjective when used in combination with fractals.
Ignored
They are very subjective, and often change when the market does, rendering them unreliable. They serve mainly to get you liquidated.

Here's a video for your enjoyment. The title is tongue-in-cheek, as he stomps a mudhole in retail trendline traders.

https://youtu.be/vk-8YO7GsdQ
 
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  • Post #1,209,118
  • Quote
  • Jan 25, 2022 5:55pm Jan 25, 2022 5:55pm
  •  Bones
  • Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 22,299 Posts
its simple 1 candle is less reliable
than 2 or 3 is most reliable
take the dxy it did break already which adds some weight
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  • Post #1,209,119
  • Quote
  • Jan 25, 2022 6:03pm Jan 25, 2022 6:03pm
  •  Nordling
  • Joined Apr 2021 | Status: Mamba Mentality. | 2,782 Posts
Quoting W0lfram
Disliked
{quote} The authors of this article tested the predictive power of 6 patterns against random guessing on the example of the stock market. Forex..乁( •_• )ㄏ Try to find them, then perform a simple statistical test https://ieeexplore.ieee.org/document/8713248 {quote}.{image} And these are bullish patterns. And we know that "stonks only go up".. so no new information
Ignored
Thank you buddy this is very helpful! I see that they are not that great, but not so bad either.
 
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  • Post #1,209,120
  • Quote
  • Jan 25, 2022 9:45pm Jan 25, 2022 9:45pm
  •  tommydoginti
  • Joined Oct 2020 | Status: Member | 2,273 Posts
Quoting W0lfram
Disliked
{quote} The authors of this article tested the predictive power of 6 patterns against random guessing on the example of the stock market. Forex..乁( •_• )ㄏ Try to find them, then perform a simple statistical test https://ieeexplore.ieee.org/document/8713248 {quote}.{image} And these are bullish patterns. And we know that "stonks only go up".. so no new information
Ignored
from the p-value it seems hammer is the one to try should a trader would explore candlestick patterns

There is another study on FOREX market EURUSD.
It is interesting as the candlestick formation is definite into 27 types, and perform pattern recognition up to 24 bars.
From quick scan I don’t see the study actually have mapped performance of all 27^24 = 2e34 patterns, but certainly the hammer.
I think it used curve fitting model to quickly optimise by modifying the patterns being recognised. Faster but not deep enough.

it does have provided some interesting information of Fx market as an overview.

https://www.researchgate.net/publica...et_Eurusd_Case

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